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already passed legislation to avoid the entire fiscal cliff. senate democrats have not. joining me now from d.c. nbc news white house correspondent peter alexander. peter, there was word the last hour that the president may have sent some sort of deal. the white house then turning around saying that's not true at all. where was the confusion? >> reporter: well, you hear the frosty statements back and forth as you just indicated there, craig. ah, the holidays in washington. a lovely time, isn't it? right now it appears clear if there's conversation going on it is not happening between the primary players but perhaps between their surrogates, senior staff and others, between those on the hill and here at the white house right now but senior white house -- senior administration official told me a short time ago that there is no proposal being sent up to the hill today. harry reid, the senate majority leader, also denied that any such thing was taking place today. both of those denials do also come against the backdrop of the fact both sides acknowledged this is not something they plan to
before we go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal, and the house comes back for a rare sunday night session. yesterday afternoon in an exclusive interview, president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. >>> mr. president, welcome back to "meet the press." >> great to be here. thank you. >> the obvious question, are we going to go over the fiscal cliff? >> we'll find out in the next 48 hours what congress will decide to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they are all about to expire at the end of the year. so on midnight december 31, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means bu
wallace talks fiscal cliff with u.s. senators lindsey graham and diane feinstein. check your local listings for the times. >> arthel: with a possible agreement being worked on behind closed doors to avoid going over the fiscal cliff, one casualty could be the defense department. severe financial cuts could hit every branch of the armed services. peter doocy and minutes -- examines. >> he did not say the word sequester. it would automatically cut more than $100 billion from the budget next year, half from domestic programs programs and m defense programs. as the deadline draws close, experts are looking at them from a national security aspect and warning about their impact on the safety of our service members. >> it's going to affect the operational force that's deployed in terms of its ability to maintain its equipment, to get repair parts, and that forces deployed around the world. not just the force that's in afghanistan that's being reduced. it would impact on the training of the force and its preparedness to conduct other operations. >> white house officials are saying it's unc
? the first senate session since 1995 to fall during the holiday week. known all along the fiscal cliff is looming, yet the deadline spurs action. not a done deal. still a chance we head over the cliff. here is what has to happen. mitch mcconnell and harry reid have to come to agreement. by tomorrow, possibly. have something they can vote on in the senate tomorrow night or possibly even monday. send it to the house of representatives where the president says the house speaker john boehner should put it on the floor, regardless if it gets the majority of the majority. that's the traditional way of doing things. the president said if any of the process fails, any of the steps along the way we outline, a senate agreement, vote in the senate, moving to the house, if it fails, the president wants a basic bill on the floor that sets those income levels at $250,000 above, to have everyone have their taxes rice rice. a lot of ifs and but, a flurry of last-minute activity, focused on the congressional leaders in the wes wing of the white house. >> like you said it will take a badda bing, badda b
-called fiscal cliff. it's come down to a matter of hours. midnight tomorrow, everybody's taxes going up unless something happens in washington, d.c. hello to you all and welcome to weekends with alex witt. i'm t.j. holmes filling in for alex. a consequence of history in the nation's capital if congress cannot reach a compromise deal on tax and spending cuts. a short time ago, we were hearing from the president talking about the fiscal cliff negotiations. he spoke exclusively on "meet the press" and he had a message for congress. >> at minimum, make sure people's taxes don't go up and 2 million people don't lose their unemployment. i was modestly hopeful yesterday. now, the pressure is on congress to produce. >> the president responded to what would happen if no agreement is reached and the nation does fall over that cliff. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. if people start seeing that on januar
pass a deal to avoid the so-called fiscal cliff, but is that optimism justified even if the senate can can come together and craft a deal? a very big if at this point and what are the chances that house speaker john boehner can get members of his congress to go along with the deal. joining me now perry bacon and lynn sweet. i want to start with you because i read something that you wrote an article recently in which you said basically that the rumors of the tea party's demise have been greatly exaggerated noting their key role in refusing to go along with john boehner's tax plan to raise taxes on those making more than $1 million a year. the fiscal cliff debate has illustrated then during influence of the tea party and the power of the conservative party. boehner can't guarantee that his members won't face primary challenges from the right so there's little surprise they won't follow his lead. >> mcconnell's not going agree to something that all other republicans are opposed to because he's a republican, too, and he has to worry about a primary, potentially, as well. the core of this i
:00 a.m. yesterday, senate leader harry reid said he didn't think the fiscal cliff could be avoided. as you can see, stocks plunged. shortly after noon, senator scott brown posted on facebook of all things that he was headed back to washington because the president had reached out to the gop leadership with a proposal. then the markets bounced up a bit. but then cnbc's john harwood tweeted the white house denied skost brown's post and markets dropped again. thanks, john, for that. then came a late day surge on news that speaker boehner called the house back to washington, and late today we learned that the white house is holding a conference call with ceos on the status of the fiscal cliff negotiations. so maybe things will change once more again tomorrow. joining me now to discuss the business ramifications and what the markets think of all this, the editor of thegrio.com and msnbc contributor joy reid. >> hey, richard. >> hi, joy. do we also have fortune magazine's assistant, yes, excellent, managing editor, leigh gallagher. thanks for joining us, too. wall street seems to have be
. >>> meantime, the fiscal cliff stand-off in washington continues. at this late hour the senate and house of representatives both went into recess, still no deal. republican senate leader mitch mcconnell reached out to vice president joe biden to help reach an agreement. two men who have served as their party's closers, so to speak, on tough deals before. senate majority leader harry reid says he plans to have a plan up for a vote tomorrow morning. although there are serious differences on both sides. >> we're not going to have any social security cuts at this stage, it just doesn't seem appropriate. i still hold out hope we can get something done but i'm not overly optimistic but i am cautiously optimistic. >> republicans pushed back on claims by democrats that the social security benefit measurement, which is known as the chained cpi and basically would reduce the amount of money that senior citizens get under social security, was part of the republican plan. in any case, that is off the table. senator john mccain posted this on twitter, most of us agree the chained cpi is off the table
, right now senate leaders scrambling to find common ground to avoid going over that fiscal cliff. got less than three days to go now, folks. at the same time in his weekly address today, the president says he's preparing a plan of action if no deal is reached. >> if an agreement isn't reached on time, then i'll urge the senate to hold an up or down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's now owed on this massive $16 trillion debt. in fact, the president's tax hike would only fund the government for eight days. >> the senate is se
vacation. now he will be,ing would out on this fiscal cliff. the senate is coming back and the house of representatives is going to have a conference call for all republicans later on today and then yesterday, we saw the secretary of the treasury, tim geithner, announced the $16.4 trillion debt limit is going to be reached by monday, that was a little bit surprising to people who haven't been following this kind of thing and raises the stakes for the fiscal cliff end game because the white house had wanted a debt ceiling deal as part of the overall deal here on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing
the fiscal cliff issue, is this larger question of whether congress could act. i hope the senate does act. i hope that these meetings this afternoon, that both caucuses will come out saying that the senate should pass something. and not get all hung up on what boehner does. but actually pass something. >> yeah. we get hung up on speaker boehner sometimes. i want to push you on that because something a lot of people say, though, is that if we did this once, a big deal, 500 days, down to the wire, we didn't get a breakthrough, there are a lot of folks, including democrats who say well, why would a 60 or 90-day deal be any good? doesn't this just replay -- i take your point on the certainty of the markets in the short run -- >> go ahead. >> no, no. i'm saying more of -- half a loaf. the president has been talking about a very large deal, $1.6 trillion. if you get $800 billion now and say $800 billion later in tax reform, i would go for that. and i -- i would certainly encourage my colleagues to do that. >> understood. because -- because your time is limited going back to vote, i want to move to
>>> maybe eight days and counting before a fiscal cliff. will a shift too the senate save the day? then paradise lost. will president obama leave hawaii behind the day after christmas if a deal is in the works and the election hangover. new comments from one of mitt romney's sons that you might describe as puzzling. what do they really mean? and the gun battle rages on. new reports on why nothing may get done even after the sandy hook tragedy. >>> a massive tax hike and spending cuts -- republicans and democrats continue to point fingers in opposite directions, hinting that talks could go into the new year. >> are we going over the cliff? >> i believe we are, and i think the president is eager to go over the cliff for political purposes. he senses a victory at the bottom of the cliff. >> we only have nine days left here. when are we going to get serious about actual solutions? i would welcome john to tell me. he says he wants a solution. give us one, john. >> meanwhile, president obama is spending christmas in hawaii where he and the first lady attended the holiday memorial servic
the entire fiscal cliff and now the senate must act." so that's helpful. senator schatz, i know you probably just checked into the marriott capitol hill or something, but i don't know, you got any ideas? joining us is someone who i hope will have ideas. democratic senator debbie stabenow. senator stabenow, thank you for being with us tonight. >> absolutely, ezra. and i wanted to thank you for what is a very good summary of where we are. and it is the most frustrating thing i've ever gone through in my entire life, i think. >> i appreciate that. and covering it, what has been striking to me is the level of not just substantive disagreement on things like tax and spending but the procedural breakdown. every procedural effort that gets begun to solve this, either negotiations or the house plan b or maybe reid and mcconnell negotiations, it is dissolving very, very quickly. so what comes now? what is actually the process by which we can move forward? >> well, first of all, we have to be able to govern. we have to have an adult conversation, getting people in the room who actually want to solve t
think is going to happen now. if we get a small deal before we go over the fiscal cliff, either because harry reid and mitch mcconnell come to a deal in the senate, or because democrats jam the republicans in congress, it's mostly going to be about extending the bush tax cuts for the middle class, which will mean letting them expire for the rich. that will net somewhere around $600 billion in new tax revenue. the white house will pocket that. they will have got in three quarters of what they wanted last year, before even the negotiations had really kicked off. then we're going to go over the cliff and the pressure will mount quickly to strike another deal. republicans are still going to want entitlement cuts sop the white house will insist that the next deal include a dollar in tax increases for every dollar in spending cuts. so in that next deal, image republicans want $800 billion in spending cuts, a number of they've kicked around before. democrats will say they need that much in taxes, too. and because they've already raised rates, they got those middle class tax cuts extended, and
. >>> all eyes moves to the senate as they hope to hammer out a bipartisan bill to bypass the fiscal cliff. house majority leader harry reid and mitch mcconnell will work to the deadline to come up with a plan. i want to bring in budget committee member martin frost of texas, and republican strategist david winston. david was an aide to white house newt gingrich and senior adviser to gingrich's 2012 presidential campaign. good afternoon toeth bo of you. >> good afternoon. >> if congress can't come up with a bipart plan, senator reid said he will put to work the president's plan for tax cuts for those earning less than $250,000 a year and renew unemployment benefits. is that outcome a vote on the president's smaller deal? is that a victory for the president and democrats? >> here's the problem. >> you don't know whether that can pass the house and the spooker said yes, he would bring it up, but the problem in the house is that the issue of sikh sequestration because if i understand correctly what the republicans are saying is that they will not waive sequestration unless they're offsetting
. with senate majority leader harry reid warning we are going over the fiscal cliff, let's pose the question is it better if that were to happen. are automatic spending cuts perhaps what the country needs? josh bulk is a national correspondent with the fiscal times. josh, good to have you back. good to see you. >> good to see you. >> it's not all that bad if we go over the cliff. is there a good, compelling argument to make for doing so? >> there are compelling arguments to make for going over the cliff. it might create pressure for a genuine and real deal, not just with tax reform but spending cuts, but there's a lot of dangers in doing it. one of the big things that's screaming on my radar is the alternative minimum tax. that's a tax that is meant to prevent the wealthiest from escaping the irs altogether but unfortunately it was never adjusted for inflation. if we go over the cliff, the amt will kick in not just for 2013 but for 2012. and you've got 30 million americans that are going to face an additional $86 billion in taxes. >> if they don't fix that particular thing, not only will tax
the senate to come up with a passable fiscal cliff solution. he's promising to at least consider any bill that the upper chamber produces. senate majority leader harry reid now expected to base any legislation on a bill passed earlier this year to continue tax breaks for households will incomes below $250,000. a senate bill would likely contain an extension of expiring unemployment benefits. and the other big news of the morning, treasury secretary tim geithner unveiling a plan to buy time under the debt ceiling. in a letter to congress, geithner saying that treasury is going to begin taking steps this week to delay hitting the government's 16$16.4 trillion borrowing limit. treasury will take several measures to save that next year to keep the government from reaching the limit for about two months. but geithner warns it is harder to predict how long the delay will last because of all of this ongoing fiscal cliff negotiations making it harder to forecast what revenue and tax spending will be next year. >>> the journal says right here the white house and congressional leaders have shown no
to pass it, the speaker abdicated his role in the fiscal cliff talks. he said it was up to the u.s. senate and the white house to do something. the sad reality is that boehner is leading a dysfunctional caucus with a vocal minority of tea partiers who can hold up the chances for any deal. today harry reid accused boehner of caring more about his re-election as speaker than getting something done. take a listen. >> the american people i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker. john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> what is boehner's game plan? does he even have one? ryan grim is washington bureau chief for "the huffington post," and glen johnson is politics editor for boston.com. i worked on the hill for years. you cover the hill and know it. that was a very personal shot from harry reid. is it accurate to say, open question, that speaker boehner is worried about staying speaker? >> yes. he's defini
. >> there's the looming fiscal cliff and session of the senate set for tomorrow. the house has nothing on its schedule for the week but members have been told they could be called back with 48 hours notice. meantime, president obama going to fly back from vacation in hawaii today. john joins us in washington. john, is this trip by the president more than just window dressing? is there a chance he's here to actually do something? >> first of all, merry christmas to everybody and happy holidays. i think this is not window dressing. there is a chance they will negotiate a deal, most like l l mini deal that will temporarily resolve the issue. there is a chance something will get done and the chairman of the budget committee is holding out hope to do that. he's come back because the president doesn't want to be out in hawaii vacationing while members of congress decide up or down on a deal. >> it will be left in the -- he left in the first place knowing he would have to come back. not like he didn't know this problem existed on sunday? >> right. but he wanted to celebrate christmas home wit
by daniel inouye, the nine-term senator who died at the age of 88. starbucks have a plan to brew a fiscal cliff deal of its own from today through saturday. employees in the washington, d.c. area will be writing come together on every cup of coffee that they serve. starbucks ceo said on the company's blog, there moments in our lives where we have an opportunity to ignite tremendous positive change. remember the huge crowd on the national mall in d.c. from president obama's first inauguration? planners are not expecting anywhere near the same turn out for his second inauguration, january 21st. years ago hotels were at 98% capacity. this time around there is rooms up for grabs and you can get a decent rate. those are a few of the things we thought you should know. ♪ [ female announcer ] almost nothing can dampen a baby's mood, when he wakes up dry in pampers. unlike other diapers, pampers has 3 absorbent layers, for up to 12 hours of protection overnight, and more beautiful mornings. ♪ pampers. peaceful nights. playful days. starts with arthritis pain and a choice. take tylenol or take
. real nut he's cutting it short, heading home later this week to bu heading hothe fiscal cliff as well. lor:lor: nancy, the white house ouses they have a much better chance dealing with reid as opposed to boehner? >> well, jeff, essentially they're hoping-- democrats are-- that republicans will consider piis plan even if they don't rike it the last train leaving the station so that even if this is not the package that republicans would have chosen, en,t they'll vote for it anyway vote fe otherwise taxes will go taxor everyone on january 1. >> glor: nancy cordes in hawaii. nancy, thank you. the fiscal cliff could mean severe cutbacks and layoffs in cliff couelds, like many medical research. that's forcing leaders to make mugh choices right now. here's wyatt andrews. he andreporter: professor kerri mowen, like hundreds of medical kerearchers, has already fallen off the fiscal cliff. her budget-- which relies on of federal grants-- is being cut by - % now as the n.i.h.-- the national institutes of health-- prepares for the possibility of utes of hes later. >> it's much bigger than just my
of movement, all heavy-duty negotiating to avoid the so-called fiscal cliff is going on behind closed doors. we have correspondents watching it on both ends of pennsylvania avenue and we begin with nbc's kelly o'donnell on capitol hill with the very latest on the ongoing negotiations. kelly? >> reporter: good evening, kate. well there are emotional swings around here and aides tell me six proposals shuttled back and forth two from democrats, four from republicans and still working on those. one of the biggest sticking points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bi
in the house and the senate to come together in the fiscal cliff. we're going to be talking about the starbucks effort a little later in the show. good morning, ladies and gentlemen. >> good morning. >> good morning. it's thursday, december 27th. i'm mike barnicle in for joe, mika and willie. joining the table, we have political editor and white house correspondent for the huffington post, sam stein. >> hi. >> applause for sam. "fortune's" assistant managing editor, leigh gallagher. and the president of the council on foreign relations, author of "foreign policy begins at home: the case for putting america's house in order." and in washington, vice president and executive editor of msnbc.com and msnbc political analyst, richard wolffe. a minor round of applause for richard wolffe. >> one hand clapping. >> first of all, can anybody here come up with a synonym -- i don't care what it is -- so we don't have to employ the phrase "fiscal cliff" at all during the day? any ideas? anybody got any -- >> how about deadline? >> how about do your job. how about just do your job time. it is ridiculous. a li
hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >> we're going to head over that cliff. >> i know it's hard for the republicans. the minute those leaders move forward, they get viscerated. >> guns shouldn't be available for anyone, any time, anywhere. >> the conversation still wages on. >> its plan to add more guns to schools. >> a completely dumb-ass idea. >> i don't think the nra is listening. >> you can call it whatever you want to call it. >> congress hasn't confirmed the director of the bureau of alcohol, tobacco and firearms. >> dysfunctional, dysfunctional, dysfunctional congress. >> we're not going to allow what has happened in the past to go on. >> congress has just three business days to pass legislation to avoid going over
the fiscal cliff. even some democrats said it was too early to have that mindset. but it seems to be that's what a lot of democrats would now like to see so they can get the 250 number or bell go they certainly don't see the harm necessarily in this happening. or at least the downside doesn't necessarily -- outweigh the positives which is, as you described is the tax cut on the wealthiest earners at a certain threshold. i think that will is a difference between the two sides wanting to go over the cliff which republicans have said dash in part based on that statement that the democrats actively want to go over the cliff. i don't think that's necessarily true. i think that if there is a real danger for both sides in the short term if we go over the cliff because it is bad for the country and, therefore, that will be bad for everybody. that would be bad for the president. but it is true that democrats will be able to get, i think, more of what they want. i think it is worse for republicans. you know as well as anybody that the problems within the house gop caucus are pretty deep. those are
? >> happy friday. >> there we go, happy friday. listen, this fiscal cliff deal, everyone is so sick of hearing the phrase. i it talked to several this week, members of congress and members of the senate who indicate we're going over the cliff. they say it won't be that bad. don't worry about it. there's something in me that wonders about the psychological impact of just going right over. >> mike, you're right. they are saying that, and there's a real risk especially in the white house. they know that the reaction of the markets, especially overseas, the credit raters is unpredictable. you don't want to start your second term with a double-dip recession. that's the real risk here. for republicans more and more you hear them saying and i think this is what you're refer to here. you hear them saying, let's just wait until people get their first paycheck. wait until they get that pay economic when there's less withheld and there's not a payroll tax holiday but then they want tax relief. it's a huge risk. another political game at play here. sherman has a great story on the sight right t
negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene this afternoon with the house to follow tonight. there's a chance that a compromise will be reached, less than 48 hours before tax rates revert to their clinton dasher are levels and board across the board spending cuts talk effect. when the president took to the podium friday afternoon to urge the law enforcements to get their act together with he didn't exactly project confidence. >> this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> this may be why the pr
of a deal are fading quickly. just two trading days left until the cliff. and it's not just the fiscal cliff. wind farms and dairy are set to get hit. >> the ports of the east coast and gulf coast are bracing for a potential strike. the potential for this, midnight sunday with a shutdown threatening to threaten 20% of the cargo traffic. >> and instagram feeling the sting of the flap around privacy with users, fleeing the site. how will this impact facebook? >> as we mentioned, dennis berman, "wall street journal" market place editor is joining us here on set once again for the next hour. good to have you back, dennis. lots to talk about between the cliff and other news. >> three days before the u.s. goes over the fiscal cliff, congressional leaders will meet with the president this afternoon. i remember standing on the white house north lawn last month, after leaders met with the president back then. things looked pretty promising. here's what they said after that meeting. >> i believe that the framework that i've outlined in our meeting today is consistent with the president's call for a fa
Search Results 0 to 31 of about 32 (some duplicates have been removed)